Asana, Inc. (NYSE:ASAN) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. cut its stake in Asana, Inc. (NYSE:ASAN) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 331,505 shares of the company’s stock after selling 14,067 shares during the period. Asana comprises approximately 1.0% of Stanley Laman Group Ltd.’s portfolio, making the stock its 29th largest position. Stanley Laman Group Ltd. owned approximately 0.15% of Asana worth $6,302,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Asana during the third quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its position in Asana by 1,015.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,520 shares of the company’s stock worth $46,000 after purchasing an additional 2,294 shares during the last quarter. CWM LLC increased its stake in Asana by 25.5% in the third quarter. CWM LLC now owns 2,772 shares of the company’s stock valued at $51,000 after purchasing an additional 563 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Asana in the third quarter valued at about $184,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Asana during the fourth quarter worth about $199,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ASAN. Piper Sandler increased their price target on Asana from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Bank of America initiated coverage on shares of Asana in a report on Monday, February 26th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, KeyCorp initiated coverage on shares of Asana in a report on Thursday, March 21st. They set an “underweight” rating and a $14.00 price target for the company. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Asana presently has a consensus rating of “Hold” and an average price target of $20.67.

Insider Activity at Asana

In other news, insider Eleanor B. Lacey sold 4,462 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $15.47, for a total transaction of $69,027.14. Following the completion of the sale, the insider now directly owns 220,739 shares in the company, valued at approximately $3,414,832.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Asana news, CFO Tim M. Wan sold 10,105 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $15.38, for a total transaction of $155,414.90. Following the completion of the sale, the chief financial officer now directly owns 753,888 shares in the company, valued at $11,594,797.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eleanor B. Lacey sold 4,462 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $15.47, for a total transaction of $69,027.14. Following the completion of the transaction, the insider now directly owns 220,739 shares in the company, valued at approximately $3,414,832.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,733 shares of company stock worth $488,886. 63.26% of the stock is owned by company insiders.

Asana Price Performance

Asana stock traded down $0.35 during midday trading on Thursday, reaching $14.63. 1,253,897 shares of the company were exchanged, compared to its average volume of 1,975,979. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -12.50 and a beta of 1.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.80 and a current ratio of 1.80. The firm’s 50-day simple moving average is $16.32 and its 200-day simple moving average is $18.19. Asana, Inc. has a 1 year low of $13.34 and a 1 year high of $26.27.

Asana (NYSE:ASAN) last released its earnings results on Monday, March 11th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. Asana had a negative net margin of 39.39% and a negative return on equity of 75.22%. The firm had revenue of $171.14 million during the quarter, compared to analysts’ expectations of $167.59 million. On average, analysts anticipate that Asana, Inc. will post -1.08 EPS for the current year.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.